This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

K-V Pharmaceutical Company Announces The Completion Of The Sale Of Nesher Pharmaceuticals, Inc. Its Generic Pharmaceutical Business

ST. LOUIS, Aug. 8, 2011 /PRNewswire/ -- K-V Pharmaceutical Company ("the Company," "K-V") (NYSE: KVa/KVb) today announced the completion and closing of the previously announced sale of assets of Nesher Pharmaceuticals, Inc. ("Nesher"), the Company's wholly-owned generic subsidiary, and the Company's generic business and assets to Zydus Pharmaceuticals ( USA), Inc and Zynesher Pharmaceuticals ( USA) LLC (together, the "Buyer").

The aggregate sales price for the transaction is $60 million (subject to possible adjustment to reflect the working capital of the business unit at closing) of which $7.5 million will be held in an escrow arrangement for post-closing indemnification purposes.  The purchase includes the physical assets associated with the Company's generic business, including certain manufacturing, packaging and laboratory facilities, certain intellectual property, existing and future product opportunities, as well as equipment specific to the generic business.  

Separately, the Company has entered into a supply agreement with Zydus Pharmaceuticals, Inc. to provide third-party manufacturing services for Clindesse® and Gynazole-1®.

Greg Divis, the Company's Chief Executive Officer and President of Ther-Rx Corporation, stated, "This divestiture is in-line with our announced efforts to focus our future product roadmap in the specialty branded pharmaceutical sector.  The net proceeds from the transaction will strengthen our financial position and liquidity, while exiting the generics business will immediately reduce our quarterly cash outlays.  Moving forward, we will continue working towards making important progress with Makena™, returning our branded anti-infective products back to market and supporting additional growth potential for Evamist™."

About K-V Pharmaceutical Company

K-V Pharmaceutical Company is a specialty branded pharmaceutical company with a primary focus in the area of women's healthcare.  As such, we are committed to advancing the health of women across all the stages of their lives.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,121.70 +15.00 0.09%
S&P 500 2,000.16 +0.14 0.01%
NASDAQ 4,571.59 +0.9530 0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs